13th Nov 2014 08:55
LONDON (Alliance News) - Karelian Diamond Resources PLC shares gained ground in early trade on Thursday after the company said it has found high concentrations of kimberlitic indicator materials at its Havukkasuo site in Finland.
The company said two samples taken from the site, based in the Kuhmo region of Finland, each reported more than 100 kimberlitic indicator materials. One of the samples indicates a previously-unknown extension of the Havakkasuo kimberlite body.
Another two samples taken also delivered positive results, Karelian said.
"I am delighted with thecontinuing successful progress in our diamond exploration in the Kuhmo region of Finland. The results from Havukkasuo could indicate a very interesting prospect that has not previously been tested," said Chairman Richard Conroy.
Shares in the company were up 14.3% to 1.6 pence in early trade on Thursday, making it one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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